MIRA INFORM REPORT

 

 

Report No. :

506455

Report Date :

30.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

PLASTORIA  SA

 

 

Registered Office :

Rue  Du  Sel  56-61 1070 Anderlecht

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

24.12.1976

 

 

Com. Reg. No.:

416722589

 

 

Legal Form :

Public  limited  company

 

 

Line of Business :

Other  manufacturing  n.e.c.

Note

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employees :

36

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A+

 

Credit Rating

Explanation

Rating Comments

A+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.

Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 104% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation promise to curtail a more robust recovery in private consumption.

The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to labor market rules and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.

 

Source : CIA

 

Company summary                        

 

Business  number

416722589

Branche  Unit  Number

2013321409

Company  name

PLASTORIA  SA

Address

RUE  DU  SEL  56-61

1070 ANDERLECHT

Date  of  establishment

24/12/1976

Telephone  number

3225219782

Mobile  number

-

Fax  number

025201223

Liable  for  VAT

yes

VAT  Number

BE.0416.722.589  Check  VAT  number

 

 

Ultimate  holding  company  

 

Company  name

Company  Number

MAPLA

454739463

 

 

Commentary

 

The  business  was  established  over  41  years  ago.

The  business  has  36  employees.

The  business  is  part  of  a  group.

The  business  has  been  at  the  address  for  over  10  years.

Operating  Result  in  the  latest  trading  period  decreased  93%  on  the  previous  trading  period.

Pre-tax  profits  decreased  by  65%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  112%  during  the  latest  trading  period.

 

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

9,955,893

268,681

5,199,830

4,908,682

31/12/2015

10,985,158

780,787

5,105,904

4,511,569

31/12/2014

9,346,598

307,252

6,720,609

5,806,166

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

9,739,124

36

186,000

514,876

31/12/2015

9,579,995

36

186,000

927,755

31/12/2014

10,326,534

35

186,000

775,505

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

43.44

Industry  average  payment

485.20

Industry  average  day  sales

131.03

expectation  days

 

outstanding

 

Day  sales  outstanding

116.15

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

416722589

Company  name

PLASTORIA  SA

Fax  number

025201223

Date  founded

24/12/1976

Company  status

active

Company  type

Public  limited  company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

32990

Number  of  staff

36

Activity  description

Other  manufacturing  n.e.c.

 

 

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

 

Contractor  details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

 

Code

-

Description

-

Joint  Industrial  Committee  (JIC)

 

JIC  Code

116

Description

Joint  committee  for  the  chemical  industry

category

 

JIC  Code

207

Description

Joint  committee  for  the  employees  off  he  chemical  industry

category

 

Significant  Events

 

Event  Date

25/05/2012

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaire  25-05-2012:  Renouvellement  du  mandat  d'administrateur  et  d'administrateur  délégué pour  une  période  de  six  ans  de  SPRL  Tapla  et  SCA  Mapla.

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2016

%

31-12-2015

%

31-12-2014

%

31-12-2013

%

31-12-2012

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

1,882,350

-12.93

2,161,997

-8.55

2,364,001

-3.45

2,448,566

-10.05

2,722,279

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

1,881,879

-12.94

2,161,526

-8.55

2,363,530

-3.45

2,448,095

-10.06

2,721,808

Land  &  building

1,570,565

-12.57

1,796,280

-9.45

1,983,802

-2.70

2,038,774

-10.00

2,265,305

Plant  &  machinery

150,605

-20.83

190,221

-17.24

229,859

-10.77

257,605

-0.37

258,560

Furniture  &  Vehicles

160,708

-8.18

175,024

16.78

149,870

-1.22

151,716

-23.35

197,944

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

471

0

471

0

471

0

471

0

471

Total  current  assets

7,856,774

5.92

7,417,998

-6.84

7,962,533

2.41

7,775,029

-6.73

8,336,021

Inventories

3,402,305

-5.52

3,601,069

14.86

3,135,078

14.32

2,742,260

-1.53

2,784,822

Raw  materials  &  consumables

3,402,305

-5.52

3,601,069

14.86

3,135,078

14.32

2,742,260

-1.53

2,784,822

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

3,168,022

6.94

2,962,468

1.76

2,911,257

-8.50

3,181,687

-2.46

3,261,842

Other  amounts  receivable

258,964

-21.65

330,521

-74.84

1,313,928

35.72

968,107

9.98

880,230

Cash

938,308

112

441,351

32.08

334,165

-25.61

449,235

-60.49

1,136,966

Miscellaneous  current  assets

89,176

7.98

82,589

-69.20

268,105

-38.19

433,741

59.37

272,161

Total  Assets

9,739,124

1.66

9,579,995

-7.23

10,326,534

1.01

10,223,596

-7.55

11,058,300

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

5,199,830

1.84

5,105,904

-24.03

6,720,609

6.55

6,307,592

5.30

5,989,975

Issued  share  capital

186,000

0

186,000

0

186,000

0

186,000

0

186,000

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

5,013,830

1.91

4,919,904

-24.71

6,534,609

6.75

6,121,592

5.47

5,803,975

Provisions  for  Liabilities  &  Charges

1,591,202

1.50

1,567,662

8.15

1,449,558

1.64

1,426,212

-3.35

1,475,590

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

2,948,093

1.43

2,906,429

34.78

2,156,367

-13.39

2,489,791

-30.70

3,592,735

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

1,591,202

1.50

1,567,662

8.15

1,449,558

1.64

1,426,212

-3.35

1,475,590

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-100

3,611

Financial  debts

1,234,199

-6.72

1,323,076

-

0

-

0

-100

543,189

Trade  creditors

1,178,775

43.80

819,709

-14.07

953,893

-3.79

991,464

38.77

714,474

Amounts  Payable  for  Taxes,

385,477

11.10

346,953

-2.56

356,074

1.49

350,863

-55.87

794,996

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

149,641

-64.09

416,692

-50.77

846,400

-26.24

1,147,465

-25.32

1,536,464

Total  current  liabilities

2,948,093

1.43

2,906,429

34.78

2,156,367

-13.39

2,489,791

-30.70

3,592,735

Total  Liabilities

9,739,124

1.66

9,579,995

-7.23

10,326,534

1.01

10,223,596

-7.55

11,058,300

 

 

Ratio  analysis

                                                                                                                                                             

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

2.70

-62.03

7.11

116

3.29

-62.91

8.87

3.02

8.61

Return  on  capital  employed

3.96

-66.15

11.70

211

3.76

-68.51

11.94

-6.57

12.78

Return  on  total  assets  employed

2.76

-66.13

8.15

173

2.98

-67.00

9.03

4.63

8.63

Return  on  net  assets  employed

5.17

-66.19

15.29

234

4.57

-68.78

14.64

-8.10

15.93

Sales  /  net  working  capital

2.03

-16.46

2.43

50.93

1.61

-18.27

1.97

-15.81

2.34

Stock  turnover  ratio

34.17

4.24

32.78

-2.27

33.54

27.38

26.33

4.73

25.14

Creditor  days

43.44

47.35

29.48

-22.34

37.96

-0.11

38.00

45.54

26.11

Debtor  days

116.15

18.00

98.43

-13.42

113.69

1.96

111.50

3.75

107.47

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

2.67

4.71

2.55

-30.89

3.69

18.27

3.12

34.48

2.32

Liquidity  ratio  /  acid  ratio

1.51

15.27

1.31

-41.52

2.24

10.89

2.02

30.32

1.55

Current  debt  ratio

0.57

0

0.57

78.12

0.32

-17.95

0.39

-35.00

0.60

Cashflow

514,876

-44.50

927,755

19.63

775,505

-11.25

873,826

-40.75

1,474,842

Net  worth

5,199,830

1.84

5,105,904

-24.03

6,720,609

6.55

6,307,592

5.30

5,989,975

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

23.74

-8.38

25.91

-

-

-

-

-

9.13

Equity  in  percentage

53.39

0.17

53.30

-18.10

65.08

5.48

61.70

13.90

54.17

Total  debt  ratio

0.87

-1.14

0.88

62.96

0.54

-12.90

0.62

-27.06

0.85

Working  capital

4,908,682

8.80

4,511,569

-22.30

5,806,166

9.86

5,285,238

11.43

4,743,286

 

 

Profit  &  loss       

                                                                                                                                           

Operating  Income

10,072,006

-9.50

11,129,459

17.55

9,467,763

-9.56

10,468,615

-5.97

11,133,096

Turnover

9,955,893

-9.37

10,985,158

17.53

9,346,598

-10.26

10,415,307

-5.98

11,077,803

Total  operating  expenses

9,905,413

-2.38

10,147,422

10.63

9,172,117

-3.68

9,522,689

-4.66

9,987,847

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

10,080,015

-2.06

10,291,723

10.74

9,293,282

-2.95

9,575,996

-4.65

10,043,140

Employee  costs

1,539,809

-5.67

1,632,411

0.18

1,629,551

9.53

1,487,743

0.81

1,475,799

Wages  and  salary

1,059,056

-4.63

1,110,486

2.02

1,088,525

7.00

1,017,296

-5.80

1,079,936

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

367,814

-8.23

400,783

-0.85

404,215

5.49

383,174

7.01

358,071

Other  employee  costs

112,938

-6.77

121,143

-11.45

136,812

56.76

87,273

130

37,791

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

306,600

1.15

303,109

2.03

297,078

-11.02

333,865

-18.98

412,089

Operating  result

50,480

-93.97

837,736

380

174,481

-80.45

892,618

-18.11

1,089,956

Total  financial  income

372,164

74.30

213,518

-37.66

342,480

3.99

329,338

117

151,637

Total  financial  expenses

145,954

-46.04

270,467

28.97

209,709

-29.70

298,292

3.81

287,349

Results  on  ordinary  operations

268,681

-65.59

780,787

154

307,252

-66.74

923,665

-3.20

954,244

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

19,232

-38.09

31,064

-36.12

48,630

1289

3,499

-98.85

303,102

Extraordinary  Charges

11,224

-32.37

16,596

-6.63

17,775

5.66

16,824

16.06

14,495

Extraordinary  items

8,008

-44.65

14,468

-53.11

30,855

231

-13,325

-104

288,607

Results  for  the  Year  Before

276,690

-65.21

795,255

135

338,106

-62.86

910,340

-26.75

1,242,850

Taxation

 

 

 

 

 

 

 

 

 

Taxation

68,413

-59.90

170,609

121

-140,320

-137

370,379

105

180,098

Results  on  ordinary  operations  after

200,268

-67.18

610,178

36.33

447,572

-19.11

553,286

-28.53

774,145

taxation

 

 

 

 

 

 

 

 

 

Net  result

208,277

-66.66

624,646

30.56

478,427

-11.40

539,961

-49.19

1,062,752

Profit  (Loss)  for  the  Year  to  be appropiated

208,277

-65.89

610,524

120

276,458

-27.45

381,051

-44.59

687,752

Dividends

-

-

1,900,000

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

                                                                                                                                                

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

35

Part-time  Employees

1

Total  Fte  Employees

36

Number  of  hours  worked

 

Full-time  Employees

48,120

Part-time  Employees

1,340

Total

49,460

Personnel  Charges

 

Full-time  Employees

1,498,091

Part-time  Employees

41,717

Total

1,539,809

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

36

Actual  working  hours

52,953

Personnel  Charges

1,632,411

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

34

1

35

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

6

-

6

Higher  education  (non

1

-

1

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

25

1

26

Higher  education  (non university)

1

-

1

Higher  education (university)

1

-

1

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

11

1

12

Blue  collar  worker

23

-

23

Other

-

-

-

 

Temporary  personnel

Total

Average  number  of  temporary  staff

1

Actual  working  hours

1,352

Cost  of  temporary  staff

29,627

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

3

-

3

Leavers

3

-

3

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

 

Industry  comparison

 

Activity  code

32990

Activity  description

Other  manufacturing  n.e.c.

 

 

Payment  Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

183

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

165

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

16

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

2

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

 

Payment  expectations       

Payment  expectation  days

43.44

Day  sales  outstanding

116.15

 

Industry  comparison           

Activity  code

32990

Activity  description

Other  manufacturing  n.e.c.

Industry  average  payment expectation  days

485.20

Industry  average  day  sales outstanding

131.03

 

 

Industry  quartile  analysis

Payment  expectations

Company  result

43.44

Lower

94.02

Median

50.01

Upper

19.68

 

 

Day  sales  outstanding

 

Company  result

116.15

Lower

113.85

Median

63

Upper

30.07

 

 

Shareholder Details

                                                                                                                        

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

Group  Structure                                                                                              

Company  name

Number

Latest

 

 

financials

- MAPLA

454739463

31-12-2016

- - PLASTORIA  SA

416722589

31-12-2016

 

Minority  Shareholders                                                                                                              

Business

Company  name

%

Date  of

number

 

 

accounts

882532031

TAPLA  SPRL

1

31/12/2016

 

Minority  Interests                                                                                                                      

No  minority  interests  found

 

Linked  Companies                      

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Summons

 

There  is  no  data  for  this  company

 

 

Protested  Bills

 

There  is  no  data  for  this  company

 

 

Bankruptcy  and  other  legal  events

 

There  is  no  data  for  this  company

 

 

Director  details

 

Current  director  details

 

Position

Managing  Director

Start  Date

25/05/2017

Street

 

Post  code

 

Country

 

Name

MAPLA

Position

Director

Start  Date

25/05/2017

Street

 

Post  code

 

Country

 

Name

TAPLA  SPRL

Position

Managing  Director

Start  Date

31/07/2006

Street

 

Post  code

 

Country

 

Name

SAPLA  SPRL

Position

Director

Start  Date

01/09/2011

Street

 

Post  code

 

Country

 

Name

Lionel  Wajs

Position

Permanent  representative  legal  entity

Start  Date

31/07/2006

Date  of  birth

22/11/1946

Street

33 AVENUE  LÉO  ERRERA  BRUXELLES

Post  code

1180

Country

Belgium

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.78

UK Pound

1

INR 92.89

Euro

1

INR 80.74

Euro

1

INR 80.47

                                                                  

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.